Tag Archives: AXA
AXA: Latest News
Dana Sanchez, 1:44 pm
Specialty insurance in Africa can cover anything from currency inconvertability and political violence to insuring oil rigs and footballers’ legs. A new entity, AXA Africa Specialty Risks, will insure risks in Africa’s political, energy and infrastructure sectors. Sub-Sahara’s insurance market is increasingly attractive to global insurers. African innovations such as mobile and cashless payments may soon disrupt developed insurance markets, according to Ernst & Young.
Kevin Mwanza, 6:52 am
A group of investors meeting at a recent Africa Business Angel Forum announced that they plan to invest $60 million to help scale up African startups. Reewire, a fund founded by Neils Ellegards, a partner at U.S.-based United+, announced a $50 million fund focusing on African ventures, while Aurorae, a fund partly backed by French insurance giant AXA, said it will investor $10 million on the continent
Kevin Mwanza, 4:16 am
Africa Internet Group (AIG), one of the largest e-commerce companies on the continent, has raised $245 million (225 million euros) in one of the largest fundraising rounds by an African-focused tech firm. The funding has been raising from US-based investment bank Goldman Sachs and existing investors South African telecom MTN Group and German startup incubator Rocket Internet.
Kevin Mwanza, 6:41 am
French Insurance giant AXA plans to invest 75 million euros ($84 million) for a 8 percent stake in Africa Internet Group (AIG), one of the largest e-commerce companies on the continent. Nigerian-owned AIG is the holding company for Africa’s fast growing online retail startup Jumia that has operation in 11 countries. AXA’s investment now pushes AIG’s valuation to slightly over a billion dollars.
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